I have received an invitation to quote for a contract to provide support services to a large company. They want a full, firm & fixed price for a specified time period. There are a number of projects ongoing that I would be required to support. I have worked for this company before, but last time it was on a rate per hour basis.
I am wary about bidding on this basis in case I end up massively overworked - the projects are not specified specifically in the spec, but it is specified that there is a requirement to attend project meetings etc and no firm number put on these. On the other hand I know this company does not generally expect long hours from its staff and I would not be able to work when employees are not (work cannot be done from home, or alone).
So should I bid, or is it too risky? If I do, what should I charge? I thought of charging my normal weekly rate multiplied by number of weeks, but is this too low for the risks involved? I don't have any other work at the moment other than a zero hours contract which is only giving me about 4 hrs a week. This has been the situation for over a year now despite my looking for alternative work.